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Commercial Audiovisual Industry Grows Worldwide; InfoComm Study Projects $91-Billion AV Industry by 2012
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A just-released, first-of-its-kind study by industry trade group InfoComm International predicts that audiovisual products and services will become a $91-billion-a-year global industry by 2012.
The new "InfoComm Global AV Market Definition and Strategy Study" finds that the demand for AV technology--including digital signage, videoconferencing, and command-and-control facilities--resulted in an eight-percent growth in demand for AV products and services, between 2006 and 2009. In fact, despite a troubling economic environment, spending on AV goods and services in 2009 did not contract.
Corporations, educational institutions, and government agencies are the three largest consumers of audiovisual products and services. According to the study, the growing need for communication and collaboration in these environments is fueling reliance on AV technology; because of this, the audiovisual industry is expected to grow at a rate of 10-percent each year, for the next three years.
The study finds that the fastest-growing product categories are: displays, AV conferencing equipment, streaming media and webcasting, wireless connections, and software. It also predicts that such AV applications as digital signage, videoconferencing, and digitized high-end audio systems will continue to drive growth over the next three years.
InfoComm International's executive director and CEO, Dr. Randal Lemke, adds: "While we're heartened by the findings of this study, we're not surprised. The audiovisual industry is growing because society relies on AV technology to provide essential communications solutions."
For more information on the survey, visit infocomm.org.
